Wells Fargo & Company Increases Quarterly Cash Dividend Rate to $0.12 and Increases Common Stock Repurchase Authority

Wells Fargo & Company WFC today announced a special first quarter 2011 cash dividend on its common stock of $0.07 per share, which together with the $0.05 per share dividend declared on January 25, 2011, brings the total dividend declared for the first quarter to $0.12 per share. The special dividend is payable March 31, 2011, to stockholders of record on March 28, 2011.